报告时间：2024年8月19日 上午9:00开始
报 告 人： 钱林义（华东师范大学统计学院 教授）
报告地点：腾讯会议 612-270-147
报告题目：From Bytes to Bucks: The Influence of Social Media Commentary on Private Placement in Chinese Listed Companies
报告摘要：Motivated by the rise of public comments on social media platforms, this study investigates the influence of social media commentary on corporate financing decisions, with a specific focus on private placements, utilizing text data sourced from Chinese stock boards. Leveraging advanced textual analysis techniques, including BERT and GPT, we identify sentiments associated with private placement attempts. Our findings reveal that companies targeted by negative social media commentary tend to experience unfavorable stock returns following the private placement announcement, and sentiments articulated by small investors can predict potential placement terminations. Moreover, these comments may impact the likelihood of regulatory approval, indicating their significance in corporate governance. Additionally, we observe that the predictive power of negative comments increases with their information quality. Overall, our investigation sheds light on the influential role of social media commentary in corporate governance, tapping into collective wisdom to reveal valuable insights.
报告人简介：钱林义，男，华东师范大学经济与管理学部统计学院教授，博士生导师，上海市曙光学者，中国准精算师，中国工业与应用数学学会金融数学与工程和精算保险专委会精算保险青年委员会主任，中国现场统计研究会风险管理与精算分会常务理事，中国优选法统筹法与经济数学研究会量化金融与保险分会理事，中国社会保障学会商业保险分会理事。研究方向为概率统计，保险精算。在Insurance: Mathematics and Economics等杂志上发表论文近50余篇，专著1本，主持国家课题3项，省部级课题6项；作为子课题负责人参与一项国家社科重大项目和一项国家自科重点项目。曾获上海瑞士再保险精算科学奖三等奖、第十一届全国统计科研优秀成果奖二等奖、上海市优秀博士论文奖、上海市自然科学奖三等奖等奖项。
